Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Explain Second Mortgages and Shorter Maturities?
Expert Solution
Second Mortgages:
It is a type of mortgage loan which is similar to a mortgage loan which is tenable by a borrower's house. The borrowers remove the second mortgage when they initially have a mortgage however need a subsequent mortgage one to pay for another large buy. A borrower's first mortgage loan was presumably used to make a home purchase. Along these lines, the second mortgage is regularly irrelevant to real estate. A few borrowers utilize a second mortgage to make a vehicle buy or to combine high interest loans.
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